WASHINGTON--(BUSINESS WIRE)--The stock market is up and the economy is on the mend, but Americans are
still struggling to find a financial foothold, according to the Thrivent
Financial/ Kiplinger Survey of Family Finances released today. The
results—which appear in the June 2010 issue of Kiplinger’s Personal
Finance magazine on newsstands May 11 and online now at kiplinger.com/links/moneysurvey—reveal
that while the economy is recovering, 84% of Americans are worried about
their finances.

Other key findings of the wide-ranging poll, conducted by Synovate
eNation, delved into the differences between sexes, between spouses and
partners, and among age groups. Highlights include:

Americans are “struggling.” That’s how one-third of the 1,000
respondents replied when asked to describe their financial situation
today. Another 24% said they were “worried,” versus 29% who described
their financial situation as “stable.” What’s more, 43% said things
had gotten worse over the past two years, versus only 18% whose
situation had improved.

They’re less willing to take risks. A whopping three-fourths of
those interviewed say recent market volatility has affected the way
they handle money—at least a little. And 55% are less willing to take
risks with their money.

Financial stability is their top priority. Nearly 60% said
their most important financial goal is maintaining financial
stability, compared with 23% who aim to increase their assets. In
contrast, two years ago 37% were more concerned about building assets
versus 41% who wanted to maintain stability.

“The ‘new frugality,’ is perhaps here to stay,” said Patrick Egan,
director, Asset Management, for Thrivent Financial. “However, while
expectations may have shifted, security and stability are well within
reach for those who take the time and make the effort to set financial
goals and monitor progress.” Additional findings:

As Americans, our concerns have shifted. “Not enough retirement
savings” continues to be the most prevalent worry among respondents,
cited by about one-fifth of those surveyed. But today people are more
concerned about losing their job—18% versus 15% two years ago—and less
about credit-card debt—13% versus 18%. And only 16% of respondents
report that they are worry-free.

Women are more worried than men. Even though men have been hit
harder by layoffs during the recession, women were more likely to say
they were struggling financially (37% versus 29%). And roughly 29%
said the recession had caused tension between them and their spouse or
partner. Also, the gender gap is disappearing as to who is making
financial decisions in the household: Nearly half of all married
couples said they do their finances together.

Marriage contributes to financial stability. Unmarried
respondents were far more likely than their married counterparts to
report that they were struggling (40% versus 28%) and less likely to
describe their situation as stable (23% versus 34%).

Charitable activities have suffered. The recession has taken
its toll on charitable activities. Asked if they give back either
financially or through volunteer efforts, a significant
number—34%—said no.

Generosity and thrift are top legacies. Generosity ranked
highest as the financial virtue people would most like to leave their
children. But thrift was the overwhelming choice among older age
groups. And business sense, a dark horse, ran a strong third.

“Whether readers are getting their financial bearings or are seasoned
investors, the Thrivent Financial/Kiplinger survey indicates that
Americans are worried about the future,” said Janet Bodnar, editor of Kiplinger’s
Personal Finance. “Now, more than ever, we at Kiplinger’s
pride ourselves on offering readers practical advice about personal
finance and investing. The latest example is “Smart Moves for Life’s Big
Events,” which accompanies the survey in our June issue.”

Conducted in March 2010, the Synovate eNation online survey polled 1,000
adults 18 years of age or older in the contiguous United States. The
survey has a margin of error of 3% points.

Thrivent Financial for Lutherans is a not-for-profit, Fortune 500
financial services membership organization helping approximately 2.6
million members achieve financial security and give back to their
communities. Thrivent Financial and its affiliates offer a broad range
of financial products and services. As a not-for-profit organization,
Thrivent Financial creates and supports national outreach programs and
activities that help congregations, schools, charitable organizations
and individuals in need. For more information, visit Thrivent.com.
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